Gulf International Bank UK Ltd Has $3.15 Million Holdings in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Marriott International by 34.5%, now holding 13,204 shares valued at $3,145,000.
• Marriott's recent quarterly earnings report indicated a revenue increase to $6.74 billion and earnings per share of $2.65, matching analyst expectations.
• The company announced a $0.67 quarterly dividend and initiated a share repurchase program allowing buybacks of up to 25 million shares.

Gulf International Bank UK Ltd lessened its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 34.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,204 shares of the company's stock after selling 6,943 shares during the period. Gulf International Bank UK Ltd's holdings in Marriott International were worth $3,145,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. National Pension Service lifted its stake in Marriott International by 5.5% during the first quarter. National Pension Service now owns 577,488 shares of the company's stock worth $137,558,000 after purchasing an additional 29,956 shares during the period. Resona Asset Management Co. Ltd. lifted its stake in Marriott International by 7.1% during the first quarter. Resona Asset Management Co. Ltd. now owns 73,245 shares of the company's stock worth $17,434,000 after purchasing an additional 4,824 shares during the period. Stone House Investment Management LLC bought a new position in Marriott International during the first quarter worth about $101,000. Trajan Wealth LLC raised its stake in shares of Marriott International by 6.8% in the first quarter. Trajan Wealth LLC now owns 2,763 shares of the company's stock valued at $658,000 after acquiring an additional 177 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its stake in shares of Marriott International by 0.3% in the first quarter. Motley Fool Asset Management LLC now owns 12,824 shares of the company's stock valued at $3,055,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 70.70% of the company's stock.

Insider Activity

In other news, insider Rajeev Menon sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total transaction of $670,700.00. Following the transaction, the insider directly owned 5,706 shares in the company, valued at $1,530,805.68. The trade was a 30.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Capuano sold 12,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the transaction, the chief executive officer owned 124,067 shares in the company, valued at $32,741,281.30. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.68% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MAR. Robert W. Baird raised their price target on shares of Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Barclays lowered their price target on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Mizuho lowered their price target on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Morgan Stanley lowered their price target on shares of Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group lowered their price target on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Marriott International presently has an average rating of "Moderate Buy" and an average target price of $280.89.

Marriott International Stock Down 0.5%

MAR traded down $1.35 during trading on Friday, hitting $265.20. The company had a trading volume of 1,083,449 shares, compared to its average volume of 1,526,014. The company has a market capitalization of $71.99 billion, a PE ratio of 29.90, a PEG ratio of 2.53 and a beta of 1.44. Marriott International, Inc. has a one year low of $205.40 and a one year high of $307.52. The firm's 50-day moving average price is $269.01 and its 200 day moving average price is $260.70.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, meeting the consensus estimate of $2.65. The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.66 billion. Marriott International had a net margin of 9.60% and a negative return on equity of 93.44%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 EPS. Sell-side analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International declared that its Board of Directors has approved a share buyback plan on Thursday, August 7th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $2.68 annualized dividend and a yield of 1.0%. Marriott International's payout ratio is 30.21%.

Marriott International Company Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.